12 June 2013
AMUR MINERALS CORPORATION
(AIM: AMC)
2013 Drill Season Underway
Preliminary Drill Report from Kubuk
Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, announces that it has initiated its 6,000 metre 2013 drill campaign at its Kun-Manie exploration licence.
Highlights include:
· Kubuk: Drilling has commenced on one of the largest undrilled anomalies within the exploration licence. The Kubuk target, totaling 2.5 kilometres in length, has been defined using a combination of trenching, soil geochemical analyses and geophysical surveys. Previously completed trenches exposed nickel and copper mineralisation averaging nearly 50 metres in length containing 0.63% nickel and 0.16% copper.
· Five holes containing a total drilled length of 609 metres have been completed at Kubuk. All holes intercepted disseminated sulphide mineralisation that typically hosts nickel and copper. A combined total of 174 metres of host zone material have been intersected with the average drill host intercept thickness of sulphide being 34.8 in length per hole.
· Samples from the first three holes have been helicoptered to the project base camp where they are being crushed and pulverised for transshipment to Alex Stewart Laboratories ("ALS") in Moscow later in the month. Preliminary results will be derived using one of the Company's two RFA units located on site. RFA results will be released when available.
· The planned drilling on the Kubuk area has thus far indicated the potential to add a fifth deposit to the resource inventory. Drilling later in the season will target high grade extensions at Ikenskoe and Maly Kurumkon / Flangovy.
· Geophysical lines are being cut to the east of Ikenskoe to test the potential for the drill confirmed high grade mineralisation to extend along strike toward Kubuk located approximately three kilometres to the east where drilling is underway.
The first stage of drilling has been initiated on the Company's Kubuk target within the Kun-Manie exploration licence. Over preceding exploration field seasons, soil geochemical, rock chip sampling and geophysical surveys defined an area containing a substantial mineral anomaly identified as Kubuk. The anomaly is approximately 2.5 kilometres in length and up to 1.0 kilometre in width and contains elevated levels of nickel and copper. Geophysical results also indicate that a substantial conductor (zone of high metal content) is present and coincident with the geochemical analyses. Trenching along 750 metres of the anomaly further confirms the presence of nickel and copper in sulphide form. Exposed mineralised lengths from within the trenches average 48.3 metres with average grades being 0.63% nickel and 0.16% copper. Kubuk lies along the Maly Kurumkon Trend.
Drilling completed to date has already assisted in the definition of the structure and orientation of the host zone. The zone was interpreted to be dipping at approximately 45 degrees but the newly completed holes indicate that host zone may dip at a more favourable, shallower dip at 15 to 25 degrees providing an improved potential for open cast mining.
The five holes containing a total of 609 metres have been completed along two drill sections located approximately 100 metres apart. All holes have intersected sulphide, thereby verifying the trench and geochemical sampling results within the area. The average host zone thickness intersected within the drill holes is 35 metres. An additional 2,000 metres of drilling is planned within the area of trenching during the course of this season.
The Company cautions readers that the drill confirmed host structure is indeed present but definitive analytical results establishing the actual economic grades of metal are in the process of being determined. This potential will be derived when the drill core samples are crushed, pulverised and have been evaluated using our Niton XL2 500 X-Ray Fluoresence units ("RFA") at site. The uncertified RFA results will be provided as they become available within the coming weeks and shall be updated when final definitive analytical results are available from ALS in mid-July.
The indicated mineralisation identified within the trenches at Kubuk is among the longest exposed lengths within the Kun-Manie licence area. Drill roads and platforms were constructed during the 2012 field season and an early thaw has allowed the Company to begin drilling earlier than originally planned.
Kubuk lies between the Ikenskoe deposit located approximately three kilometres to the west and Ata - Ataga, a geochemical anomaly located approximately two kilometres to the east. Geological interpretation indicates that Kubuk and Ikenskoe could link up forming a single major mineralised zone totaling as much as six kilometres in length. To date, only about one kilometre (the Ikenskoe deposit) of this much larger target has been drilled from which JORC resources and reserves were drill defined and reported in 2007 by SRK Consulting.
The Maly Kurumkon Trend is the primary host of mineralisation within the Kun-Manie exploration licence. It is typically up to two kilometres in width and is interpreted to be up to 20 kilometres in length. This Trend contains all of the drilled resources identified to date and is a highly prospective target that requires substantial drilling into the foreseeable future.
Robin Young, CEO of Amur Minerals, commented:
"The year's exploration start up is always an exciting period for Amur. We are drilling a new target at Kubuk right at the beginning of another field season. We have intersected the host zone in our first five holes and are cautiously optimistic that our visual identification of nickel and copper minerals will ultimately end with the independent laboratory reporting positive results. This could well be the beginning of the definition of a fifth deposit along our prolific Kurumkon Trend which continues to be the source to add resources and reserves."
Enquiries:
Company Amur Minerals Corp. |
Nomad and Joint Broker RBC Capital Markets |
Joint Broker Sanlam Securities UK |
Public Relations Tavistock |
Robin Young CEO |
Martin Eales |
Lindsay Mair |
Jos Simson / Jessica Fontaine |
+44 (0) 7981 126 818 |
+44 (0) 20 7653 4000 |
+44 (0) 20 7628 2200 |
+44 (0) 20 7920 3150 |
Notes to Editor
Attached and available for view on www.amurminerals.com, are plan maps of the soil sampling results accumulated within the Company's Kun-Manie licence area and schematic drawing of the Kubuk area presently being drilled.
The information contained in this announcement has been reviewed and approved by the CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.
RFA Units: The Company utilises two hand held Niton XL2 500 X-Ray Fluorescence Spectrometer units on site. The units provide preliminary analytical results for nickel and copper and assist in the selection of samples for submission to the laboratories for final accurate analyses. The accuracy of the RFA results varies from the final analytical results determined by the independent laboratory responsible for determination of the final contained nickel and copper contents. RFA results therefore must be considered to be indicative only of potential metal content.
The Company does not utilise the RFA results in the determination of resource or reserve estimates. It does however use the results to assist in the final selection of drill hole locations as the results are highly indicative of metal potential.
Comprehensive Soil Sampling Results
Purple indicates the area of anomalous nickel content (+100 ppm).
http://www.rns-pdf.londonstockexchange.com/rns/8224G_-2013-6-11.pdf
2007 JORC Resource Estimates By Area - All Classes
Resource Area |
Tonnes (Mt) |
Ni (%) |
Ni (t) |
Cu (%) |
Cu (t) |
Ikenskoe |
36.4 |
0.45 |
162,700 |
0.13 |
46,000 |
Maly Kurumkon |
26.2 |
0.52 |
136,500 |
0.14 |
37,700 |
Vodorazdelny |
5.9 |
0.71 |
41,800 |
0.20 |
11,800 |
Total |
68.5 |
0.50 |
341,000 |
0.14 |
95,500 |
The above defined resources are presently being updated to JORC standards using all historical exploration results.
Kubuk Area Soil Geochem Anomaly
2013 Phase 1 Drill Target
Purple indicates areas of +0.2% nickel
http://www.rns-pdf.londonstockexchange.com/rns/8224G_1-2013-6-11.pdf
